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support europe. i do not want less europe, i want more europe. with a single economic defense and political framework. unfortunate, europe has taken a different route. the bu accurates of europe have developed a policy of austerity, disastrous when applied to economies that were already in trouble. we have seen what happens in greece where we are still close to a civil war. naturally, i objected to this policy at the heads of state of government when they were presenting proposals, especially when i have to defend the italian interests. for example, i vetoed and suspended the council heads of state when i was presented with the fiscal impact. this is my position. i could not agree with them when they imposed homework to greece which i was in total disagreement with or when they proposed the token tax which we stupidly adopted. and it is clear that financial transactions will migrate to companies that do not have a total impact. i also disagreed when european banks were ordered to account for the government bonds that they have in their balance sheet at mark to market value and
on the defense side and on the domestic side. about $109 billion the first year, 1.2 trillion over ten years. you'll see estate taxes go up, investment taxes go up. there is an endless list of expiring provisions of law that will, in fact, expire if nothing is done. and i think even if something is done at this point, what you're looking at is something very scaled back, something very small and congress will have to come back next year and take a look at trying to get to some of those other issues. >> alistair here. that sounds about right to me, assuming that that scenario is how things play out. what sort of impact medium term do you think this is going to have on consumer and corporate confidence in america, given that the fiscal cliff is clearly weighed heavily on both of those in recent months? >> the sad thing, you know, from an observer's standpoint here is that there isn't much corporate or consumer confidence in the american government. and it's proved itself dysfunctional time and again over the last couple of years. what you hear now is not how people believe that there's going to be
Search Results 0 to 1 of about 2